ompany purchased $4,500 worth of merchandise. Transportation costs were an additional $395. The company returned $310 worth erchandise and then paid the invoice within the 3% cash discount period. The total cost of this merchandise is: Multiple Choice $4,415.00 $428200. 54,450.00 Savod QS 5-16A Contrasting periodic and perpetual systems LO P5 B Identify whether each description best applies to a periodic or a perpetual inventory system. 0:47:54 Description a. Returns immediately affect the account balance of merchandise inventory b. Revenue is recorded when merchandise is sold but not cost of goods sold. c. Provides more timely information to managers. d. Gives managers immediate access to detailed information on inventory levels Cost of goods sold is recorded at the end of the period when an inventory count is e. performed Inventory system Periodic inventory system Perpetual inventory system Perpetual inventory system Periodic inventory system Perpetual inventory system int rences